Lebanon’s financial prosecutor has questioned 40 bankers in an investigation into about $100 million transferred abroad during the country’s financial crisis, according to local reports. MTV Lebanon said the first phase concerns managers, board members and owners from eight unnamed banks. The prosecutor, Judge Maher Sheaito, is expected to hear from about 15 more people when sessions resume next week.
The inquiry covers transfers made during a period when depositors faced severe restrictions on withdrawals and overseas payments. Banque du Liban supplied official account information that prompted the questioning, MTV reported. An earlier L’Orient Today report said the central bank had initially submitted data concerning 45 to 50 board members and senior executives from seven banks. None of the people or institutions in the current phase has been publicly identified.
FUNDS FACE JUDICIAL SUPERVISION
Those questioned were given deadlines to return the relevant funds to Lebanon, according to MTV. The money would be placed in frozen accounts supervised by the financial prosecutor’s office rather than released for ordinary use. Janoubia separately reported that most of those summoned had indicated willingness to reverse the transfers and that judicial sources expected the first recovery pool to approach $100 million.
The reported arrangements are part of an investigation and do not by themselves establish criminal liability. MTV said some bank owners told investigators that transferred funds had since been used to buy property abroad. Sheaito nevertheless required their return within specified periods, with potential prosecution if the directions were not met, the outlet reported.
INVESTIGATION MAY WIDEN
The inquiry comes as Lebanon continues to negotiate how losses from its banking collapse should be allocated among the state, central bank, commercial banks and depositors. Its progress will be watched for evidence that authorities can trace transfers made while informal capital controls constrained ordinary customers. The unnamed institutions and absence of public judicial filings mean the allegations require careful attribution.
MTV reported that a later phase would examine politicians, influential figures and businesspeople once the prosecutor receives additional records from Banque du Liban. The immediate milestone is completion of the remaining first-phase interviews and verification of whether the reported repatriation deadlines are met. Any charges, account seizures or confirmed recoveries would represent a further material development.